The diamond drill., 1887-04-02
TRADE REVIEW.
Depression indications in Some Lines
The Money Market.
HaiIroad business and General Trade
increasing.

r. G.. Dun & Co. in their weekly trade
review, say: "April is close at hand, and
some anxiety as 10 the money market Is
usual az this season. The banks have been
sending large amounts TO the interior
through deposits at the Treasury and is
sues of silver certificates elsewhere, and
there hts been heavy demand for Phila-
delphia exchange, so that further decline
i'm reserves is expected. The Western end
Southern demand for money is intensified
by desire 10 ship products before the IN
terstate act and change of rates goes into
effect. Though the demand at Chicago -
reported diminishing, rates are q TO per
cent. All the circumstances make II com
paratiycly easy for an operator 10 produce
tight money II he plsases. The Treasury
has taken in 81 100000 more gold than IT
had paid out during the past week, but
has added $3,O0O,C01 to the outstanding
silver certificates, and put out some legal
tenders also; the reduction of rates 10y the
Bank of England and the abundancs OF
money there favor confined ease in this
market, as does the later foreign trade,
exports from New York for three weeks
being Is per cent. larger than last year,
with imports 7l6 per cent. larger. The
February official report shows an increase
of %2,s0O,00O in exports over last year, the
amount being the largest since 1883, but
imports were the largest on record for
many years in February, and the excess of
imports was 81, 1867; gold exports for
the month exceeding imports by S1,b33,-
7S6.
RAILROAD business has been large. West
bound shipments from chief Eastern
cities were l44,l60 tons in February,
against 13f,980 last year, but east-bound
tonnage was 7i1.250 tons, against S56,294
tons last year. The temporary activity OF
March does not indicate larger business
after the change OF rates, however, nor is
the building of GIG miles of road. against
296 TO date last year, n safe indication as
10 the future. Reports regarding the iron
business are not favorable, imports evil
IDENTIFY having a depressing effect. IL
would not be strange II reaction should
soon begin; the rise which began in 1871
lasted twenty months, the rise which be
gan in 1878 lasted sixteen months, and the
rise which began in 1885 has now lasted
about eighteen months. The volume OF
legitimate business is large an 4 increasing,
as exchanges and tonnage records show,
but speculation in most markets Is dead.
Oil speculation suffers from pending bills
in Ohio and Pennsylvania. Pork products
have reacted little. Wool is lower, the
demand for goods being slack. Wheat has
declined cent, corn about a cent, and
oats a shade, with unusually small sales
and large receipts. Cotton has advanced
4 and coffee Is a cent, and beef is stronger,
but the prevailing uncertainty affects
most branches of business unfavorably,
excepting as transactions are hastened to
make shipments 10y rail before the change
in rates and the expiration of contracts.
"The business failures during the last
seven days number for the United States
2ls, for Canada IL, total 259, against 220
last week and 22l for the corresponding
week OF last year. The casualties are con
siderably above the average in the South
ern States and in Canada. In New York
City there were 10 failures, in the New
England States, 81, and in the Middle
States 4OH